Here is another report about how farmers, especially Kentucky farmers, are being squeezed by Trump’s tariffs, but they still love them some Trump:
President Trump doubled down on his fight for better trade deals during his speech to American Farm Bureau Federation members at their convention in New Orleans..
Farm Bureau leaders said the organization is behind the president but expressed concern that continued tariffs on American farmers are taking a toll.
“If we had our way, we’d get a great resolution, and we’d have it tomorrow,” Ohio Farm Bureau spokesman Joe Cornely said. “So we’re reminding the administration that we need these problems resolved as quickly as possible.”
I think the fact that farm bankruptcies are up in the upper midwest might be putting a little bit of strain on farmers:
Farm bankruptcies are on the rise in the Upper Midwest, according to a new report from the Federal Reserve, doubling from their recent lows in 2014.
At least 84 farms filed for bankruptcy from June 2017 to June 2018 in Wisconsin, Minnesota, Montana, and North and South Dakota, according to analysis from the Federal Reserve Bank of Minneapolis.
The report released earlier this month shows that over the same time period in 2014, 32 farms filed for bankruptcy.
Article points out the Trump trade tariffs and dropping commodity prices are to blame for the increase in farm bankruptcies. I always keep on eye on North Dakota nowadays, especially after they threw Democratic Senator Heidi Heitkamp out of office in 2018. The North Dakota soybean farmers have not felt enough economic pain for them to reevaluate their support of Trump’s trade policies.
And neither have Kentucky farmers either. They still love them some Trump. Hooooooo Doogggies!
In all seriousness, I think that Trump supporting farmers will never admit that they literally bet the farm on Trump. And they are losing.
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